PRODUCTS

Informed Auto

Auto Loan Deal Jacket Verifications

What is Informed Auto?

Informed Auto is a bundle of consumer stipulation verifications and dealer document verifications. With Informed’s AI, automated verifications you:

  • Enable real-time boarding of loans
  • Empower lenders to fund more deals, faster
  • Get dealers paid faster
  • Reduce friction in the Consumers’ F&I experience

Leverage consumer stipulations at point of underwriting or at funding. While, traditionally, dealer document stipulations are  integrated right before funding which allows dealers to pre-check their deal jackets.

This prevents held offerings and contracts in transit. And, you can seamlessly integrate Informed’s stipulation responses into your LOS screens. When there are defects, Informed sends back the review reason allowing analysts to know the exact issue.

Challenge

Processing auto loans is a time-consuming, error and bias prone manual process for Funding & Underwriting teams. They must verify stipulations and complete long checklists – all while staying compliant with federal and state laws. This increases the chances for contracts in transit and held offerings. Current processes prevent lenders from ramping up their portfolio, and dealers from providing customers with a seamless F&I journey when all they really want is to drive off in their new car. 

Lenders and dealers need customizable tools to collect documents still needed and to clear stipulations at underwriting, giving them upfront confidence.

Solution

For Consumer Stipulations
Once the credit application details, documents, and required stipulations are submitted, Informed’s machine learning models classify the documents and extract required fields needed to answer the funding questions as well as flagging fraudulent documents and calculating income.

For Dealer Document Verifications
Using eContracts and paper contract data, Informed dynamically identifies documents included or missing from any deal jacket (GAP, VSC, Anti-Theft, Appearance Plan), extracts and verifies data within to fulfill stipulations per lenders’ decisioning and state/federal laws.

See our Informed Auto guide for more info

Upcoming Webinar: Crossing the chasm into the new digital world: The impact of AI and automation in creating a fully digital auto ecosystem

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